LatinFinance - November/December 2016 - 13

COVER
STORY

As Latin America's biggest bank by market value prepares for a
leadership transition, the operating environment is rapidly evolving
with new competitors, a new political backdrop and major economic
changes. Katie Llanos-Small examines Itaú Unibanco's plans for
the years ahead.

Seasonal
shift
2017 will be a pivotal year for Itaú Unibanco. The
bank's chief executive officer, Roberto Setúbal, is
set to retire after more than two decades on the job.
At the same time, the bank must keep ahead of the
pack in an economic and competitive environment
that is shifting sharply.
"We have basically two kinds of challenge,"
Setúbal tells LatinFinance. "One is technology...
But also the bank will be facing other opportunities
given the economic situation. We expect them to be
opportunities and not challenges. But I believe that
as growth resumes, we will have growth needs as
well and this will be very important."
There is much at stake. Itaú Unibanco is not just
Latin America's largest bank. It is the largest privately-held financial institution in the emerging markets
outside China, with a free-float adjusted market cap

of a weighty $62 billion, according to figures compiled by UBS analysts.
"The bank has reached very close to a mature
level in Brazil," says Domingos Falavina, Latin
American bank analyst at JPMorgan. "Its growth
and profitability will be contingent on certain
things in Brazil as well as geographic expansion.
In Brazil, the key things for earnings growth and
profitability to remain high next year will be costs
coming down, especially provisions. After that, a
tailwind for profitability should be efficiency improvement."
Itaú won a slew of categories in LatinFinance's
2016 Banks of the Year Awards. It is our overall
Bank of the Year for 2016, as well as taking country
awards for Brazil and Paraguay and the Brazilian
investment bank category.
November/December 2016 - L ATINFINA NCE.COM 13


http://www.LATINFINANCE.COM

Table of Contents for the Digital Edition of LatinFinance - November/December 2016

Contents
LatinFinance - November/December 2016 - Cover1
LatinFinance - November/December 2016 - Cover2
LatinFinance - November/December 2016 - Contents
LatinFinance - November/December 2016 - 2
LatinFinance - November/December 2016 - 3
LatinFinance - November/December 2016 - 4
LatinFinance - November/December 2016 - 5
LatinFinance - November/December 2016 - 6
LatinFinance - November/December 2016 - 7
LatinFinance - November/December 2016 - 8
LatinFinance - November/December 2016 - 9
LatinFinance - November/December 2016 - 10
LatinFinance - November/December 2016 - 11
LatinFinance - November/December 2016 - 12
LatinFinance - November/December 2016 - 13
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LatinFinance - November/December 2016 - Cover3
LatinFinance - November/December 2016 - Cover4
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